1MDB is actually financially healthy, says CEO Arul Kanda Kandasamy

Authorities around the planet, including the United States, Switzerland along with Singapore have looked into anti-money laundering breaches relating to 1MDB.

Olivia Harris | Reuters

Authorities around the planet, including the United States, Switzerland along with Singapore have looked into anti-money laundering breaches relating to 1MDB.

The financial scandal — one of the planet’s biggest — has rocked Malaysian politics along with involves players as diverse as Goldman Sachs along with Hollywood.

The state of 1MDB’s finances has been a major concern after a highly publicized default on a series of bonds in 2016, which triggering fears which Kuala Lumpur would likely have to bail out the fund.

Arul Kanda, however, claimed to CNBC: “I’m very proud to say which 1MDB has not defaulted on any of its payment obligations. We continue to service the debt.”

The company’s debt, he said, stands at around $7.75 billion, while 1MDB has nearly $11 billion in assets.

The company’s last bond matures in 2039, although depending on the pace along with speed of asset development, the debt could be paid earlier, he said.

“In 2015, we laid out a rationalization plan in order to monetize assets over time along with meet the company’s debt obligations,” the executive said.

which’s boosted confidence among international investors, he said, adding which they are today “satisfied with transparency along with openness of the company along with have today committed to invest in projects which were originated by 1MDB.”

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